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About: EPCI     Goto   Sponge   NotDistinct   Permalink

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EPCI stands for Engineering, Procurement, Construction and Installation, a common form of contracting arrangement within offshore construction. The acronym EPIC for Engineering, Procurement, Installation & Commissioning is also used. In EPCI contracts, the contractor rarely carries the project risk unconditionally. Rather, contractor and customer have detailed discussions on the division of the risk. Risk of delays and cost overruns due to lacking weather windows is an example of a typical risk that may be borne by the customer rather than the contractor.